Grade for INDS 430

I believe I deserve a grade of A in INDS430 because i have continually improved my work according to the class specifications. My assignments reflect an increased knowledge of both technology and entrepreneurship. I have also made extensive efforts to learn as much as possible by attending extra credit lectures and continually revising assignments.

Justification:

Of the 11 HTWFIP assignments I received 7 A's, 1B, 2 did not have a grade, and 1 did not have a comment.
Employee Interaction #1
Employee Interaction #2
5 Social Interactions
Reporter Interaction
10 Social Interactions
Secret of Socrates
Reporter Interaction #2
Social Interaction
Lessons from Pt 4 HTWFIP
Being a Leader- Interaction #1
Being a Leader- Interaction #2

My Enterprise Value Assignments continually improved according to professor's suggestions. The revisions reflected a better grasp of the course material and technology. My formatting was consistently better although despite my best efforts my numbers were still off.
EV Original Assignment
EV Revision #1
EV Revision #2
EV Revision #3
EV Revision #4
EV Revision #5
EV Revision #6
EV Revision #7

My product slide revisions always conformed to the professor's suggestions. The end format "looks almost professional."
Product Slide Assignment
Revision 1 plus marketing slide
12 Month Marketing Budget
First Year Budget
Revision 1- First Year Budget
Revision 2- First Year Budget
Revision 3- First Year Budget

For Financing Sources I did exactly what the professor's comments said, using the SBA and found the Buffalo Zone.
2 Financing Sources
Revision 1
Revision 2

Other Assignments:
Additional Traffic - Grade A
Identifying a consumer on the Technology Adoption Life Cycle
Debbie Fields Essay- Grade A
Extra Credit
Debbie Fields Essay -Grade A

In addition to these assignments I also attended every class and participated regularly in discussions.

Josh Howard Incident

Above the Influence

Family Guy Clip

1980's

1930's

Extra Credit

I have FINALLY gotten around to writing about the speaker series, big day for me. Any way, I have to say that I really enjoyed hearing from an entrepreneur that began in the non-profit world. We often hear about successful entrepreneurs who went on to create massive public companies and create large profits. This was a bit different. On March 30th, Jeannie Howe spoke about the non-profit side of entrepreneurship as it exists today. She spoke about the American entrepreneur as a risk taking business person that is highly motivated, passionate, creative, committed and intelligent. She began her career with a background in theater from the University of Denver. She later left the theater and entered into human services as the campaign manager for the united way. Later, she was promoted to marketing manager in the organization. During this time she secured many business partners, expanding her social network. While at United Way she worked on a campaign with the postal service and "Family Circle" magazine to expand the marrow doner registry. Later, she left United Way and went out on her own beginning on the board of "Every Man Theater." During this time she realized that she had a passion for consulting and connecting the needs of different companies. She created a business plan and found a coach to guide her through areas of uncertainty. Through research and guidance she created a client base and consulting fee. "Every Man Theater" is now her biggest client because she established a very efficient matrix of relationships that greatly benefited the business. Howe stressed the importance of social networking and having friends in different placed with different skills. I asked how to go about approaching an acquaintance that you have not talked to for years to ask a favor. She said to show there is an interest in the personal and professional dealings of the acquaintance. This tied very well into the lessons of Dale Carnegie in "How to Win Friends and Influence People." Clearly, the personal interactions we have can greatly influence the success of our business. We might as well be friendly, it couldn't hurt. :-)

Updated Financing Sources

To fund my business the most probable sources would be the local banks. The Small Business Administration would be the primary target for a loan, especially with the state of the current economy. Venture Capitalists in the area deal primarily with technology based companies limiting their reliability. The three SBA offices in the New York region reside in Buffalo, Syracuse, and New York. The Buffalo office deals with many local banks to distribute loans. Two banks that provide SBA loans are M&T and First Niagara Financial Group.

M&T Bank Contact Info:
Alfred F. Luhr III
Senior vice president
M&T Bank Corp. group manager for business banking
750 Main Street
Niagara Falls, NY 14301
Phone- 716-285-1285
Fax- 716-284-8656
E-mail Through Website

The second bank that provides SBA loans is First Niagara Financial Group.

First Niagara Contact info:
Steve Brennan
Vice president/ SBA manager
7350 Niagara Falls Blvd
Niagara Falls, NY 14304
Phone- 716-283-0749
Fax- 716-284-5296
E-mail Through Website

The Statewide Zone Capital Corporation (SZCC) has a program in the Western NY development region. The Zone is located in Niagara Falls at:

Niagara Falls Empire Zone
745 Main Street
P.O. Box 564
Niagara Falls, NY 14305
Fax: 716-286-8836

Ms. Clara Dunn, Empire Zone & MBE Coordinator
Phone: 716-286-4481
Email: clara.dunn@niagarafallsny.gov

Updated Enterprise Value

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Updated First Year Budget

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Being a Leader Interaction 2

This weekend the UMBC softball team went to Boston to play our second conference series. I was to room with another upperclassman and a freshmen. In the world of sports the rookie, or freshmen, takes in the brunt of manual work and jokes. I have found that people dont really respond well to this technique. Year after year however if there is a job that needs to be done the call of "freshmen...do___" is almost inevitable. Uperclassmen are given first choice for pretty much everything and the freshmen have last choice. The beauty is that nobody remains a freshmen forever. That is the typical hierarchy of collegiate athletics. This weekend there were three people in the room, two full beds and a cot. Naturally the two upperclassmen (myself included) would have the full beds and the freshman the cot. When we got to the room, the other upperclassman took one full bed already, leaving another bed and the cot vacent. I looked at the freshman and used the principle from chapter 4 of HTWFIP, "nobody likes to take orders." I could have just said "seniority, i have the bed, so you take the cot." I chose however to take the Dale Carnegie approach and said "oh man these cots are really short and my feet will probably hang off, would you mind if I slept on the bed?" She said, "nope its all yours." I think she really appreciated the lack of dictatorship.

Being a Leader Interaction 1

This week I employed the chapter 9 principle of HTWFIP entitled "making people glad to do what you want." I am currently enrolled in the class Speech 210- interpersonal communication. This class is infuriating. There is absolutely no purpose to the things we do in class and the professor is impossible to talk to. Attendance is worth half of our grade in this course. Unfortunately, the spring is also softball season and I miss a significant amount of classes through the course of the semester. In addition to this damaging my grade I received a very low score on a paper I had recently submitted. I picked the paper up during her office hours and this gave me a chance to speak with her one on one. I received the grade and was very irritated however I analyzed the situation and used principle 9. I began by expressing my desire to do well in the class and how important interpersonal relationships are in every day life. As she is the professor of the class, she strongly agreed with this statement. (This is actually the yes yes approach.) She nodded her head as if to say yes, this is important, and yes, I also want you to do well. I then led into my poor grade and said this paper was not a true reflection of my work. How would I be able to better express myself in the context of this assignment? My goal was to be able to somehow add some points onto my paper. She told me that my personal life was missing from the paper (god-forbid I did not talk about my personal life during a reading response-I simply responded to the reading, how foolish.) To better express myself I could plan a presentation (for the entire class) about how the reading relates to my personal life. Well I got what I wanted, the SPCH 210 class will soon be fortunate enough to listen to an entire presentation about how poor interpersonal communication physically harms the body. Somehow it turned out to be a good thing that my sister currently has four ulcers.

Updated Enterprise Value 4/6

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Financing Sources

To fund my business the most probable sources would be the local banks. The Small Business Administration would be the primary target for a loan, especially with the state of the current economy. Venture Capitalists in the area deal primarily with technology based companies limiting their reliability. The three SBA offices in the New York region reside in Buffalo, Syracuse, and New York. The Buffalo office deals with many local banks to distribute loans. Two banks that provide SBA loans are M&T and First Niagara Financial Group.

M&T Bank Contact Info:
Alfred F. Luhr III
Senior vice president
M&T Bank Corp. group manager for business banking
750 Main Street
Niagara Falls, NY 14301
Phone- 716-285-1285
Fax- 716-284-8656
E-mail Through Website

The second bank that provides SBA loans is First Niagara Financial Group.

First Niagara Contact info:
Steve Brennan
Vice president/ SBA manager
7350 Niagara Falls Blvd
Niagara Falls, NY 14304
Phone- 716-283-0749
Fax- 716-284-5296
E-mail Through Website

Revised First Year Budget

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Lesson From HTWIP Part 4

Part four of How to Win Friends and Influence People taught many important lessons about how to be a good leader. One principle that I personally employed was "ask questions instead of giving direct orders." I am currently working on a group project for my management class. There are two main parts to the assignment:
1.) Interview a manager about their experiences
2.) Talk about how these experiences relate to the course material we have covered.
One of my group members, Adam is in a circle of friends that I sometimes hang out with. We had planned on doing the interview Friday evening when our manager was done with work. There was also a large party planned for Friday night that I knew Adam planned to attend. On Thursday afternoon he asked me if I were going to the party and asked if I wanted to go to a movie with some friends before. It was evident that he had forgotten about the interview which was worth half our grade. Instead of yelling at him for his carelessness and ordering him to forget the movie I asked if there would be time between the interview and the party. The look on his face confirmed that he had forgotten, but he saved face and his pride wasn't hurt. He tried to play it off by saying "not sure how long the movie is, ill check it out and let you know." Later that night he text me and said there would not be enough time...duh!

Revised First Year Budget 3/30/09

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Two Sources of Financing

In an effort to seek funding I would first turn to angel investors to avoid debt. My business is in Niagara Falls, NY and it is more probable to get funding from a local financier. The HSBC Plaza is only 45 minutes from my location. Information about the Rochester Angel Network is found below:

Option One: Rochester Angel Network
Address:
Rochester Angel Network
100 Chestnut Street
HSBC Plaza - Suite 1910
Rochester, NY 14604

Contact Person:
James Senall
Director of Rochester Angel Network
Phone: 585-546-8477
Email:Takes Place Through Website

I understand however that acquiring this financing from RAN is highly improbable because their previous clients were mostly technology based companies. I therefore found two other sources to borrow the money through loans. Friends and family would not provide the necessary start-up capital.

Option Two: Bank of America:

Address:
1263 Military Rd
Niagara Falls, NY 14304

Contact Person:
Frank G. Giogas
Assistant Banking Center Manager
Telephone: 716-283-8783
Fax- 716-283-6462

Information about small business loans was found on the Bank of America Website. Bank of America is my personal bank and Frank manages my current account. I called and talked to him and he said that he would be responsible for the initial phases of getting a loan.

Option Three: First Niagara Financial Group:
Address:
7350 Niagara Falls Blvd
Niagara Falls, NY 14304

Contact Person:
Angela Robinson
Loan Officer
Telephone: 716) 283-0749

In order to attain this information I had to call the bank and personally ask who I would contact.

Updated Enterprise Value 3/30/09

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Social Interaction

After our games on Sunday two of my room mates and I went to Friendly's. In previous trips to this restaurant the service has been extremely poor. When we were seated I smiled at the waitress, and while using her name, said hello. Throughout the greeting I asked her how she was and she responded with the typical "im okay how are you?" I said that I was hungry and asked what entree was her personal preference. I took her advice and while waiting for a friend to make up her mind I asked "don't you hate it when people take forever to order?" She laughed and said it was no problem. This is slightly dissimilar from the secret of Socrates, but I think the humor eased the silence. Later in the meal she brought out the food and she served me the wrong entree. I asked her if this were the entree that she recommended and she said there must have been a mistake in the kitchen. Instead of taking the food and correcting the mistake she gave it to our table to eat. This was a nice gesture and unnecessary because I have been in similar situations where I had to wait another twenty minutes for food. The service that night was very good and I think it was partly due to Dale Carnegie and the book How To Win Friends and Influence People.

Journalist Interaction

The reporter who I contacted a few weeks ago was Andrea Thomson. I still have yet to meet her in person because she is not often on campus. She is very busy with the news section of the paper and during spring break the campus is shut down. She recently wrote an article regarding the opportunities offered by the shriver center. There are many internships and part time jobs offered over the summer. I really liked the way the article addressed the financial struggles of students. I contacted Andrea on AIM and found out that she is writing a new piece about construction on campus. I talked about her article and told her that the career fair on campus is how I acquired my summer internship. We had another positive conversation and then she had to go to a dentist appointment. I have not heard from her recently but I feel our conversations are going well.

Secret of Socrates

This week I used the secret of Socrates in an interaction with my boyfriend Ryan. We played five softball games this weekend and I was pretty tired. On Saturday we played two games at 12pm and 2pm. We were outside in 40 degree weather for about seven hours (we warm up for about 2 hours before games.) Needless to say I was tired, hungry and slightly irritated. Ryan wanted to go out for a nice dinner following the game. I on the other hand wanted to just relax and have a quiet night. I asked him questions like: Don't you want to just relax? Do you really feel like getting all dressed up? Wouldn't the time it takes to get ready prolong eating for another couple hours, aren't you hungry now? It turned out that Ryan decided to make me a nice pasta dinner. I was very pleased that he converted to my way of thinking.

First Year Budget

VIEW FIRST YEAR BUDGET FULL SCREEN

Enterprise Value

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Revised Enterprise Value Calculations

The Enterprise Value of Apple on the IPO date: $1,192,737,304
Current Enterprise Value: $75,774,205,496.90
888,325,973 outstanding shares x $85.30
(According to the 10-Q report filed by Apple on January 23, 2009 and Yahoo Finance)
The comparative percentage is an increase of 6352%

The Enterprise Value of Microsoft on the IPO date: $52,500,000
Current Enterprise Value: $135,847,800,699.44
8,890,562,873 outstanding shares x $15.28
(According to the Second Quarter 10-Q report filed by Microsoft on January 20, 2009 and Yahoo Finance)
The comparative percentage is an increase of 258757%

The enterprise value of Microsoft is 56% higher then Apple.

12 Month Marketing Budget

Sledding

Name: Emily Thompson
URL: emily15@umbc.edu
From: Niagara Falls New York
Referral: Blog
VisitedTossingGames: No
Type: New Hill Submittal
State: Maryland
City: Baltimore
County: Baltimore
Land: School
Property: Private Property
Permission: Yes
Designated: No
Turf: Dirt
Slope: 50 degrees
Length: 300 - 400 ft. long
Accessible: Yes
Parking: Yes
Texture: Smooth & Bumpy
Hazards: Yes
Crowds: None
Photo: No
Specific Location, Comments, etc.: There is parking near the athletic turf. Trees to the far left of the hill cause obstructions.
subject: Sledding Location Submittal

Ten Social Interactions

1. On Wednesday night I went to see the movie He’s Just Not That Into You with some friends. One of my friends Chris decided that he did not want to see a “chick flick.” He said they were sappy and boring. Although I strongly disagree I did not tell him he was wrong. I offered some examples of movies he thought were funny. I challenged him to sit through the movie and try to enjoy it. It turned out to be a fun night and Chris didn’t complain.


2. My boyfriend Ryan finally went to get a long over due hair cut. I often go with him to supervise the event. The regular woman that does his hair was not in on Wednesday afternoon. After he told her not to cut his hair too short she did what she wanted anyway. I did not criticize, condemn or complain and I reassured him that it would grow back in soon.


3. On Tuesday the UMBC softball team played George Washington. One of the freshmen grabbed the bucket of machine balls instead of the regular balls. I called attention to this indirectly by asking Brandon if coach wanted us to bring the machine balls instead of the regular ones. I did not give an order to switch buckets and insult her but instead suggested the switch indirectly.


4. During warm up drills on Tuesday, I heard Valerie talking about her dislike for another teammate. I then told Valerie that the girl she was trashing spoke highly about rooming with her over the weekend because she avoids gossip. This gave her a reputation that I hope she tries to live up to.


5. Jen has been having trouble hitting. She has been consistently striking out and her mental game is taking a hit. At her last at bat on Tuesday she struck out but fouled off two pitches. I made sure to point out that this was an improvement and that she is making connection, she was sure to hit it in play soon. That seemed to cheer her up.


6. We went to eat at Taco Bell following our games on Tuesday. The restaurant was short staffed and did not seem ready for the twenty-three people that walked in the door at once. Jeff, the man at the counter, looked overwhelmed. He accidentally overcharged me one apple empanada. I told him it wasn’t a problem because im sure my friend would like a dessert, besides it was only 89 cents. The fault was easy to correct.


7. Brittany is very protective of her things, specifically her milk. A friend came over and drank what was left of her milk. I thought her overreaction was really amusing but I sympathized with her and let her drink my milk.


8. Amanda was working at the UMBC bookstore. I walked up to her and asked how her day had been. I smiled, used her name and said I have a sister with the same name. She said she only had a brother and proceeded to talk about how annoying a younger brother could be. I took and interest and let her do most of the talking. I chimed in and said that I also have a younger brother. The conversation was pleasant and we parted ways.


9. Jeffrey is good with computers. I recently had to make a spreadsheet for a certain class and was a bit confused with excel. I went up to Jeff who is typically cocky and offers help while making you feel terrible. I praised him for his computer skills and appreciated his skills. After complimenting him he was happy to help me with my spreadsheet.


10. The softball booster club donated new travel gear for the team. I felt we should send them a thank you. I received some hesitation from some teammates as if I were too sentimental. I dramatized my idea by expressing how nice it is to be thanked for helping out others. I brought up creating an elaborate thank you video and had everybody laughing. After that it was simple getting people to sign a card.

Jeffrey is an early adopter. He currently has an LG Voyager from Verizon wireless. He uses his phone for text, picture, and video messaging. The touch screen is becoming more accepted in the cell phone market. It is in the process of crossing the chasm and entering the early majority. Jeffrey purchased this phone six months ago, which excludes him from the innovators. He bought this product early in the life cycle which makes his an early adopter. The touch screen is not yet completely accepted because its practicality is often questioned.

Updated Enterprise Value

According to the Second Quarter 10-Q report filed by Microsoft on January 20, 2009:
There were 8,890,562,873 shares outstanding. The price of stock is currently $15.79 on March 2, 2009 at 4:48pm.

The Enterprise Value for the company is therefore: 140,381,987,764.67
The comparative % is currently -2.23%

According to the 10-Q report filed by Apple on January 23, 2009:
There were 888,325,973 shares outstanding. The price of Apple stock is currently $87.94 on March 2, 2009 at 4:49pm.

The Enterprise Value for the company is therefore: 78,119,386,065.62
The comparative % is currently: -1.53%

Reporter Interaction

My attempt to form a positive relationship with a "Retriever Weekly" journalist is still underway. I looked at all the staff members and viewed their facebook profiles if possible. Many of the writers had privacy settings that limited the viewing of personal information. I was not able to touch base with anybody at the 214 University Center address this week. My daytime schedule is very filled between class and softball practice. When I went by later at night nobody was there. I then resorted to looking at facebook profiles to get AIM screen names. Two members offered this information, Magan Zlock (production) and Andrea Thomson (news). I sent both writers instant messages and Andrea responded. She was hesitant to talk to me because she did not recognize my screen name. I then explained that I was contacting her for academic purposes and although I blew my cover, I think we had a positive conversation. I know that an online conversation eliminates some of the principles in HTWFIP, but I tried to make up for these losses wherever possible. My initial message read "Hi Andrea :-)". This was my attempt to smile. We had a very in depth conversation and I sent her my UMBC softball biography so she could get to know a little about me. My picture was also included so that we will recognize each other on campus. Even if we are not yet friends, I think I have laid a good foundation for a positive personal interaction.

Revised Slides with Marketing Budget

Additional Traffic

The ways in which I will increase the volume and quality of traffic to my blog include:

-creating a link to my blog on my facebook page
-linking the most popular google search terms of 2007 to my blog. These terms include baby names, weather, maps and directions. I “googled” each term and linked the first page listed to my blog.

The links are:
http://www.babynames.com/
http://www.weather.com/
http://www.mapquest.com/beta
http://maps.google.com/

Social Interactions

This week I was involved in five social interactions with an employee at Starbucks, my conditioning coach, my head softball coach, a Dunkin Donoughts employee and a man at blockbuster. These week I experienced more positive interactions. The two let downs were my head coach, and the Starbucks employee. The woman at Dunkin Donoughts actually gave me an extra bagel. Im pretty sure this was a mistake however it could be an apology for last weeks inedible burnt bagel. Either way, it was during my interaction experiment and so I will chalk it up to the six principles.

At blockbuster, I successfully attempted to return some movies that were overdue. I had received the call one day prior saying that my account was going to be charged. I went in, smiled and asked how David's Monday was treating him. I found out that Monday was his most hated day of the week. I offered some sympathy and joked that tomorrow Monday is the furthest day away. I then asked the young man if there was anything that he could do about my late movies to make my Monday a bit brighter. He was happy to help.

My conditioning coach was my more formal interaction. It went about like a regular conversation and I asked what he had gotten his wife for her birthday (which he mentioned was coming up a few days earlier.) It was a very positive interaction and I think he was pleased that I took an interest. I then asked if he could help me with my homework by answering some questions regarding his cell phone. He was happy to help and after analyzing his information I would identify him as an early majority consumer. He owns the Motorola Razor with Verizon service. The interesting thing is that he bought his first cell phone in 1992, but never really used it until 1995. He infrequently used it from 1995-1998 and switched to Verizon in 2003. (He doesn't remember who his first provider was.) In 2003 he frequently used his phone as primarily a camera. His usage has increased to include phone calls, alarm clock, and picture messaging. Knowing his history he is difficult to identify on the technology adaptation life cycle. Today I would put him in with the early majority due to his limited use and phone type.

Enterprise Value

At 4:00pm on Feb 23, 2009 Yahoo Finance estimated the enterprise value of Microsoft to be:
141.73 Billion (8.89 Billion x 17.21)
Comparative Percentage= -4.39%

At 4:00pm on Feb 23, 2009, Yahoo Finance estimated the enterprise value of Applee to be:
55.57 Billion ( 890.55 Million x 86.95)
Comparative Percentage= -4.66%

Product Slides

Employee interaction

This week I interacted with employees at chic-fil-a, the dining hall, and Dunkin Donoughts. I had very different interactions with each employee. I returned to chic-fil-a last Tuesday afternoon and ordered the grilled chicken sandwich for the second time. I talked to Sandia and I discovered that before she worked at the administration building she worked at the air port. Apparently the students at UMBC are much more pleasant compared to the business men/women that travel at BWI. The interaction was neutral, I did not benefit or lose anything from the interaction.

My second attempt was at the dining hall on Tuesday night. This was a rather disturbing interaction. The abbreviation TMI stands for Too Much Information, and that is exactly what Maria contributed. I approached the register, smiled and told the woman that I could not read her name tag. She then responded by telling me that her name was Maria, she is eighty-one years old and still having sex. WOW. That was not a response that I was expecting. She proceeded to tell me about herself and I was pleasant, however I will never think of Maria the same way again.

My last interaction took place at Dunkin Donoughts on Friday morning. I spoke with Bamil, smiled, asked how her day was and she proceeded to tell me about her morning. In that time she unfortunately burned my bagel and thought nothing of it. This was a negative interaction because that bagel was disgusting and I paid full price.

Overall this was not the greatest week for employee interaction. I am typically pleasant and I did this experiment a number of times however I never benefited greatly. I now know more names of employees on campus, maybe one day that will be helpful.

Identifying a Consumer According to the Technology Adaptation Life Cycle

The source of this information is a friend named Ryan B. Ryan currently uses the LG enV2 phone with Verizon Wireless service. His use for the phone includes phone calls, text/ picture/ video messaging, alarm clock, calendar/ event scheduling, and occasional gps navigation.

Ryan is in the early majority of the technology adaptation life cycle. He is driven by a sense of practicality. This can be inferred because the features he uses improve overall communication. His phone has an mp3 player built in but he does not use this feature, instead he uses his ipod. This indicates that he is not yet comfortable with this feature, and feels it is useless because it does not improve communication. He has been with Verizon for about 8 years making him a loyal customer.

When asked what phone he would purchase if money were not an issue Ryan responded with the iphone. This phone is revolutionary in that it combines the phone, internet and ipod technology into one device. Ryan already owns an ipod, which is the reason he does not use the enV's mp3 player. There is great compatibility between the ipod and the iphone, creating its appeal. Overall, I would put Ryan in the early majority consumer group. His interest in the iphone displays some early adapter tendencies, especially in the desire for a breakthrough device. Many of his other possessions including his computer and car indicate that he is an early majority, or a pragmatist. He is driven by practicality and improvement.

Enterprise Value

Apple Enterprise Value as of 1980:

Outstanding shares x Cost of individual shares + Short term debt

$54,215,332 x $22 + 9,353,870

Total Enterprise Value: $1,202,091,174

Microsoft Enterprise Value as of 1986:

Outstanding shares x Cost of individual shares + Short term debt

2,500,000 x $21

Total Enterprise Value: 52,500,000

The enterprise value of Apple was 4.37% higher then Microsoft during the initial public offering.

Interaction with employee

This week at Chic-Fil-A i went about incorporating some of the principles from How to Win Friends and Influence People. The on campus restaurant location is a self serving establishment. I therefore ordered a grilled chicken sandwich in order to interact with an employee (grilled chicken is a special order). This particular woman's name was Sandia and i recognized her from the Administration building, where i typically get coffee in the morning. I smiled and said "hello Sandia" she asked if she could help me and i requested a grilled chicken sandwich. While she was preparing my order I told her i recognized her from the administration building and asked which location she preferred to work. She responded "admin" with a small laugh and said that she never gets out on time at Chic-Fil-A. By that time my sandwich was finished and she handed me my order with a smile and said "have a great day."

Debbi Fields Revised Essay (INDS Assignment #2)

The entrepreneurial venture in itself is inspirational because it allows individuals the freedom to capitalize on their personal dreams and aspirations. Many Americans define success as the accumulation of monetary wealth. This desire for financial prosperity can be achieved through various means. Entrepreneurship offers the possibility for immense personal fulfillment, and success, in the face of financial risk. There have been many great entrepreneurs that have shaped American society. One in particular, Debbi Fields, built a successful business through passion and dedication. Her relentless desire for personal fulfillment drove her to establish Mrs. Fields Bakeries in 1977, a company that today has over 2,300 locations around the world.

Debbi Fields is one of my favorite entrepreneurs because she built a thriving business from a simple idea. She faced many obstacles including an non supportive husband and family, lack of business experience and a need for financial backing. She was married to Randy Fields at the age of nineteen and took on the role of a housewife. Baking cookies was a hobby that she passionately enjoyed. Social gatherings were not of particular interest to Fields because she felt her role as a housewife was met with condescension. One particular eye-opening experience occurred at such a gathering. Fields found herself in the library with a successful man who inquired as to what she wanted to do with her life. Her response was that she “wanted to get orientated.” He walked over to the bookshelf, threw the dictionary at her and said “if you cannot speak the English language, then just don’t. The word is not orientated it’s oriented.” Fields felt humiliated and went about changing her status within society. She knew her talent was baking and became determined to achieve personal success doing something she enjoyed.

Life is an emotional roller coaster. One day we are invincible and the next we feel insignificant and worthless. The key to success is not accepting defeat. According to Debbi Fields, “the greatest failure is not to try.” Her family felt that she would not succeed and that she “had no business in the cookie business.” Financial backing was very difficult to secure. Many banks were not willing to support Fields based on market research. Statistics found that consumers had a strong preference toward crispy cookies. Fields’ cookies were unique in that they were soft and larger then average size. After searching the yellow pages and being repeatedly turned down, she found an investor. Fields agreed to pay 21% interest on a loan for the chance to open her own business. When Mrs. Fields Chocolate Chippery opened on August 16, 1977 it was not an immediate success. Fields faced further discouragement from her husband when he bet that she would not make $50 in sales by the end of the day. Toward mid-afternoon, Fields was losing the bet so she decided to go into the streets, handing out free samples and personally promoting the business. By the end of the night she reached $75 in sales.

Mrs. Fields expanded during the next six years, operating 160 cookie outlets by 1984. The growth of the company demonstrates the insignificance of “real” numbers when identifying a marketing segment. Fields’ product was incompatible with the established data however the continuous innovation of soft cookies were a large success. She did not make an attempt to create a target market but instead used informed intuition to target each customer individually. Image characterizations were useful in identifying market behavior to further the growth of the company. Debbi Fields sold to residents within a few mile radius of Palo Alto CA. Her customers were very similar to those in the existing market of bakery consumers. Age, income, race and sex were not limited because the product was inexpensive and available. She referred to her customers as “cookie people,” which is a very ambiguous description. Debbi Fields would sell her cookies on an individual basis, which created “bowling pin potential.” Her cookies would infiltrate different niches through word of mouth promotions and free samples.

There were many factors that made expansion possible for the business. Within the first few years, Mrs Fields’ Chocolate Chippery changed its name to Mrs. Fields’ Cookies. This was done in an effort to diversify products beyond the traditional chocolate chip cookie. The initial success of Mrs. Fields Inc. was the product and service provided by the business. The cookies were affordable, which was beneficial to consumers because price and time are two main constraints when making a purchase. The residents in the area firmly supported the business and would drive miles to acquire the product. Eventually, Fields decided that it was necessary to open up additional stores in adjacent counties. This expansion was under the financial advisement of husband and economist, Randy Fields. The success of Mrs. Fields Inc. deteriorated his initial skepticism and he became an instrumental part of the business. A major breakthrough for the company occurred in 1989 when Debbi Fields decided to use state-of-the-art technology to streamline production schedules and operations. This technology was unmatched in the food industry and allowed the company to surpass the competition of local bakeries and snack vendors. Today, Harvard uses Mrs. Fields’ Inc. as an example of the successful integration of technology into business. Fields’ was an early adapter in the technology adaptation life cycle. She found a breakthrough technology that provided a leap forward for the company. Operating in this window made Mrs. Fields Inc. the success that it is today. The following year, in 1990 Fields decided to franchise the company. Six years later, Mrs. Fields’ was bought by Capricorn Holdings a company that additionally owns TCBY, The Great American Cookie and Pretzel Time. The main competitor at this time is Antie Anns Pretzels. Debbi Fields has worked in sales, management, product development, brand name management, and public relations. Today, she is a consultant and spokes woman for Mrs. Fields Original Cookies. She gives seminars around the country and sits on the board for the Outback Steakhouse and The Orpheum Theater.

Debbi Fields did not have a college education or any business experience when her venture began. She decided to capitalize on the thing she knew best, cookies. The technical skills required to bake cookies are very limited. Human skills and the insistent desire to achieve success were the primary components to Mrs. Fields. Debbi Fields had a unique way of hiring employees. Her hiring strategy included, making the applicant sing Happy Birthday in the middle of a crowded store. She wanted to ensure that her employees were personable “cookie people.” Fields unknowingly utilized many management practices that are studied today. The bottom line is that she made millions of dollars selling cookies. Debbi Fields is the embodiment of entrepreneurship at its best. America is a symbol of freedom and opportunity. Even those without formal education and elaborate technical skills can develop into a national icon and achieve personal success.

WORKS CITED:
Carmichael, Evan. 2008. Debbi Fields: The Cookie Connoisseur. Famous Entrepreneurs. http://www.evancarmichael.com/Famous-Entrepreneurs/1558/summary.php

Moore, Geoffrey A. 1991. Crossing The Chasm. HarperCollins Publishers. New York, New York.

Debbi Fields (INDS Assignment #1)

The entrepreneurial venture in itself is inspirational because it allows individuals the freedom to capitalize on their personal dreams and aspirations. Many Americans define success as the accumulation of monetary wealth. This desire for financial prosperity can be achieved through various means. Entrepreneurship offers the possibility for immense personal fulfillment, and success, in the face of financial risk. There have been many great entrepreneurs that have shaped American society. One in particular, Debbi Fields, built a successful business through passion and dedication. Her relentless desire for personal fulfillment drove her to establish Mrs. Fields Bakeries in 1977, a company that today has over 2,300 locations around the world.

Debbi Fields is one of my favorite entrepreneurs because she built a thriving business from a simple idea. She faced many obstacles including an unsupportive husband and family, lack of business experience and a need for financial backing. She was married to Randy Fields at the age of nineteen and took on the role of a housewife. Baking cookies was a hobby that she passionately enjoyed. Social gatherings were not of particular interest to Fields because she felt her role as a housewife was met with condescension. One particular eye-opening experience occurred at such a gathering. Fields found herself in the library with a successful man who inquired as to what she wanted to do with her life. Her response was that she “wanted to get orientated.” He walked over to the bookshelf, threw the dictionary at her and said “if you cannot speak the English language, then just don’t. The word is not orientated it’s oriented.” Fields felt humiliated and went about changing her status within society. She knew her talent was baking and became determined to achieve personal success doing something she enjoyed.

Life is an emotional roller coaster. One day we are invincible and the next we feel insignificant and worthless. The key to success is not accepting defeat. According to Debbi Fields, “the greatest failure is not to try.” Her family felt that she would not succeed and that she “had no business in the cookie business.” Financial backing was very difficult to secure. After searching the yellow pages and being repeatedly turned down, she found an investor. Fields agreed to pay 21% interest on a loan for the chance to open her own business. When Mrs. Fields Chocolate Chippery opened on August 16, 1977 it was not an immediate success. Fields faced further discouragement from her husband when he bet that she would not make $50 in sales by the end of the day. Toward mid-afternoon, Fields was losing the bet so she decided to go into the streets, handing out free samples and personally promoting the business. By the end of the night she reached $75 in sales. Mrs. Fields expanded during the next six years, operating 160 cookie outlets by 1984.

Debbi Fields did not have a college education or any business experience when her venture began. She decided to capitalize on the thing she knew best, cookies. The technical skills required to bake cookies are very limited. Human skills and the insistent desire to achieve success were the primary components to Mrs. Fields. Debbi Fields had a unique way of hiring employees. Her hiring strategy included, making the applicant sing Happy Birthday in the middle of a crowded store. She wanted to ensure that her employees were personable “cookie people.” Fields unknowingly utilized many management practices that are studied today. The bottom line is that she made millions of dollars selling cookies. Debbi Fields is the embodiment of entrepreneurship at its best. America is a symbol of freedom and opportunity. Even those without formal education and elaborate technical skills can develop into a national icon and achieve personal success.

WORKS CITED:

Carmichael, Evan. 2008. Debbi Fields: The Cookie Connoisseur. Famous Entrepreneurs. http://www.evancarmichael.com/Famous-Entrepreneurs/1558/summary.php